Actuarial evaluation of government of Punjab pension fund liabilities

Mestrado em Actuarial ScienceO Governo de Punjab (GoPb) organizou um plano de pensões de benefícios definidos para os seus funcionários permanentes. Além de atender aos pagamentos anuais dos benefícios de pensão, o GoPb contribui igualmente para um fundo de reserva designado Punjab Pension Fund (PPF). O Punjab Pension Fund foi estabelecido ao abrigo da lei designada Punjab Pension Fund Act 2007. A principal função do PPF é gerir os fundos disponibilizados pelo GoPb para atender às responsabilidades com pensões dos seus funcionários. Este trabalho tem por finalidade essencial fazer uma análise dos aspetos mais significativos do PPF, dada a importância que este fundo tem para o Governo da província, atualmente e no futuro. Detalhando um pouco mais, pode dizer-se que o trabalho foi desenvolvido com base nos seguintes objetivos: i. Realizar uma avaliação atuarial do Fundo de Pensões do Governo de Punjab; ii. Realizar projeções de fluxo de caixa do Fundo de Pensões do Governo de Punjab nos próximos cinco anos; iii. Fazer recomendações relativamente aos requisitos de financiamento para o Fundo de Pensões, com base nos resultados obtidos em i. e ii.; iv. Realizar uma análise de sensibilidade das principais premissas com efeitos sobre as projeções das responsabilidades com pensões e demais fluxos financeiros; v. Identificar as medidas reformadoras que permitam colocar a taxa de contribuição do plano de pensão existente a um nível aceitável; vi. Propor a estrutura de um novo plano de pensão, destinado aos futuros contratados.This actuarial investigation carried out of the Government of Punjab Pension Scheme liabilities as at the valuation date. To summarize, the work was developed with the following main objectives: i. Conduct an actuarial valuation of Punjab Government Pension Fund; ii. Carry out cash flow projections of Punjab Pension Fund over the next 5 years; iii. Make recommendations for funding requirements for Pension Fund based upon above findings; iv. Carry out sensitivity analysis of key assumptions on pension liability and cash flow projections; v. Identifying reform contours to bring contribution rate of the existing pension scheme at a manageable level; vi. Propose a structure for a new pension scheme for new hires.info:eu-repo/semantics/publishedVersio

K-theory and the connection index

Let G denote a split simply connected almost simple p-adic group. The classical example is the special linear group SL(n). We study the K-theory of the unramified unitary principal series of G and prove that the rank of K_0 is the connection index f(G). We relate this result to a recent refinement of the Baum-Connes conjecture, and show explicitly how generators of K_0 contribute to the K-theory of the Iwahori C*-algebra I(G).Comment: 11 page

Jurisprudence of Successful Treason: Coup d\u27Etat & Common Law

The first part of this article is a survey of all known judicial responses to coups d\u27etat in post colonial common law settings. Although these different coups unfolded in diverse contexts the courts validated all incumbent usurper regimes with one exception. Kelsen\u27s theory of revolutionary legality furnished the primary doctrinal vehicle to reach this result. While some courts adopted Kelsen\u27s proposition that efficacy of a coup bestows validity in an unadulterated form, others modified this with or substituted it by doctrines of state necessity, implied mandate, and public policy. Following Kelsen, they fail to distinguish between legitimacy and validity of a legal order, using the terms interchangeably. The second part of the article evaluates the four possible judicial responses: validation and legitimation of usurpation, strict constitutionalism, resignation of office, and declaration of the issue to be a nonjusticiable political question. It is proposed that declaring the validity and legitimacy of a regime born of a coup d\u27etat a nonjusticiable political question is the most appropriate judicial response because it is doctrinally consistent and principled, morally sound, politically neutral, and institutionally prudent. The article argues that the legitimacy of a usurper regime is a political and moral issue to be resolved through the political processes of a society, and that the validity of a successful coup d\u27etat is a meta legal question which belongs to the province of legal theory. As such, both the legitimacy and validity of a regime born of a successful coup d\u27etat fall outside the jurisdiction and competence of the courts. Designation of these as nonjusticiable political questions will insulate the courts from turbulent politics, deny the usurpers judicially pronounced validity and legitimacy, and facilitate the survival of the courts and the rule of law